Fibonacci Retracements Analysis 06.01.2014 (EUR/USD, USD/CHF)

06.01.2014

Analysis for January 6th, 2014

EUR/USD

After rebounding from upper target level, Eurodollar started moving downwards. Most likely, after completing local correction, pair will continue falling down towards closest group of fibo-levels. If market rebounds from them, pair may start new correction.



Current correction is quite unlikely to be very deep; main target is at 23.6%. If price rebounds from it, I’ll increase my short position. According to analysis of temporary fibo-zones, lower targets may be reached by the middle of this week.



USD/CHF

Franc is also being corrected, but may yet continue growing up. It looks like bulls may reach level of 0.9120 during the next several hours. However, if market rebounds from upper fibo-levels, price may start new correction.



At H1 chart, price is expected to finish current correction at level of 23.6%. If pair rebounds from this level, I’ll open one more buy order. According to analysis of temporary fibo-zones, predicted target levels may be reached by Wednesday.



 
RoboForex Analytical Department

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Ask a question

Need any help? Click on the icon in the lower right corner of the page and get an answer to any your questions

Or enter your phone number in the form below and we will call you right away.

Call back
Ask a question